ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They hope to avoid paying large amounts of taxes.
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They need more money to support their growing populations.
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Oil workers have threatened to walk off the job.
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They are planning for a time when oil runs out, or it will no longer be in demand.
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Detailed explanation-1: -Anderson, a professor at the Lamont-Doherty Earth Observatory at Columbia University, explains. Plate tectonics determines the location of oil and gas reservoirs and is the best key we have to understanding why deserts and arctic areas seem to hold the largest hydrocarbon reserves on earth.
Detailed explanation-2: -The crisis was the result of Arab oil-producing countries, known as the Organization of the Petroleum Exporting Countries (OPEC), refusing to sell crude to the U.S. Arab oil-producing countries launched the embargo in response to U.S. support of Israel during the 1973 Yom Kippur War.
Detailed explanation-3: -Petroleum has historically been the largest major energy source for total annual U.S. energy consumption. We use petroleum products to propel vehicles, to heat buildings, and to produce electricity.
Detailed explanation-4: -Saudi Arabia Saudi Arabia has $34.4 trillion worth of natural resources-notably oil.2 The nation has been a leading exporter ever since oil was discovered in 1938.